All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
It's time the government accepts that Digital India is too distant.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
The 2023 edition of the Indian Premier League (IPL) will see Disney-Star and Viacom18 competing to sell their ad space with an eye on the estimated Rs 4,000-crore advertising money.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
Reserve Bank Governor Shaktikanta Das on Wednesday said the decision to tweak policy rates was not in his hand as he himself is driven by the situation on the ground. In April, the Reserve Bank in a surprise move hit the pause button and decided to keep the key benchmark policy rate at 6.5 per cent. Prior to it, the Reserve Bank of India (RBI) was on a rate hiking spree, raising the repo rate by 250 basis points since May 2022.
Private investment will respond only to sustainable reform.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
The double whammy saw the Bombay Stock Exchange's benchmark Sensex fall 3 per cent or 456.39 to close at 13,469.85 even as global rating agency Standard and Poor's suggested it might lower India's sovereign rating of BBB- (investment-grade status) due to the country's deteriorating credit profile over the last 12 months.
'It may sound like sacrilege, but does it really matter if the global raters downgrade India for fiscal slippage?' asks Tamal Bandyopadhyay.
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
Pichai said a whole new generation of technologies are happening in India first, and that people in the country no longer have to wait for technology to come to them. Investments, he said, will focus on four areas key to India's digitisation, including enabling affordable access and information for every Indian in their own language, be it Hindi, Tamil, Punjabi or any other.
'The anti-Digital India campaign is a vindictive hatchet job rather than a fact based, rationally sound appraisal; a personal attack rather than issue based criticism; an ideological assault rather than altruistic effort. It must be called out for what it is,' says Vivek Gumaste.
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
Prime Minister Modi also made a veiled reference to China, saying the global order is based on the respect for the principles of the UN Charter, peaceful resolution of disputes, and respect for sovereignty and territorial integrity.
It forecast a growth of 9 per cent for 2011-12.
The prime minister will leave for the Indonesian city of Bali on Monday on a three-day visit to attend the summit that is expected to deliberate extensively on pressing global challenges including the Ukraine conflict and its implications.
The government on Monday published a draft data policy for public consultation, which says all data collected, generated, and stored by every government ministry and department will be open and shareable barring certain exceptions. Also, detailed datasets that have undergone value addition could be monetised by the government. The policy document, called "Draft India Data Accessibility & Use Policy 2022", prescribes that a regulatory authority called the Indian Data Council (IDC) and an agency by the name India Data Office (IDO) will oversee framing metadata standards and enforcement, respectively.
The minister further said the Sri Lankan government is holding continuous interactions with the Tamil diaspora and people and leaders living in different parts of the world.
Social media giant Meta Platforms and Bharti Airtel on Monday announced a collaboration to jointly invest in telecom infrastructure to cater to the rising demand of high speed data and digital services in India. The announcement comes on the back of telecom operators' demand to share revenue with service providers to build networks. "Airtel and Meta will jointly invest in global connectivity infrastructure and CPaaS (communications platform as a service) based new-age digital solutions to support the emerging requirements of customers and enterprises in India," the statement said.
India's upbeat outlook contrasts with neighbouring China, where growth slipped to 6.7 in the first quarter
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
India's macroeconomic situation is improving fast and the country's GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said on Sunday. Goyal in an interview to PTI said the management of the COVID-19 pandemic and gradual unlocks announced by the government have helped in avoiding multiple COVID-19 peaks. The growth estimates by different agencies are being continuously revised, she said.
The biggest question looming over the summit is whether there will be a joint leaders' declaration in view of the sharp differences between the West and the Russia-China combine on the text to describe the Ukraine conflict in the document.
Rajeev Chandrasekhar discusses five issues pivotal for the success of Digital India
The government should use interest rates for more than administrative measures to handle economic growth in the long term.
The 2022-23 (FY23) January-March quarter performance of the country's largest listed paint companies was better than Street expectations. Asian Paints, Berger Paints, and Kansai Nerolac Paints (Kansai Nerolac) registered double-digit revenue growth, compared with the year-ago quarter, reinforced by strong volume/value growth. Falling raw material prices also helped the paint majors hoist their gross margins.
Fresh guidelines issued by the Union home ministry on Wednesday permit industries operating in rural areas to run from April 30 with strict social distancing norms.
Only the top 5 per cent profit makers account for 75 per cent of profits.
'You will see more and more people working independently -- starting beauty parlours, driving cars, etc.' This is what we call the gig economy.' 'The same people who have been laid off in India or are unable to get visas to work in the US may be part of this gig economy.' 'India needs billions of jobs, and it can only be created by self-employment or the gig economy.'
India on track to be third largest consumer economy by 2025.
As US President Joe Biden launched a new trade deal with 12 Indo-Pacific nations, including India, to enhance trade, economic and investment opportunities, China, which sees the pact as a threat to its dominance in the region, went on the offensive against it, promising more opening up, while the official media here termed it as "economic Nato".
A round-up of the Ranji Trophy quarter-final matches played on Sunday.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
The international community counts a lot on India's leadership of the G-20 at a time when the world is faced with the continued economic slowdown and social distress, the chief of the International Monetary Fund Kristalina Georgieva has said. "India, which is the president of G-20 countries, remains among the countries that perform better than the global average and by a good percentage," IMF managing director Kristalina Georgieva told reporters during a media roundtable on Thursday. India formally assumed the G20 (Group of 20) Presidency on December 1.
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
